Toronto Dominion Bank Sells 40,188 Shares of Amgen Inc. (NASDAQ:AMGN)

Toronto Dominion Bank lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,133 shares of the medical research company's stock after selling 40,188 shares during the period. Toronto Dominion Bank's holdings in Amgen were worth $42,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC increased its position in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company's stock valued at $223,897,000 after buying an additional 748,200 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock valued at $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an "outperform" rating and a $380.00 price target for the company. Finally, Citigroup cut their price objective on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and an average price target of $319.68.

Amgen Price Performance

Shares of AMGN traded up $0.65 during mid-day trading on Thursday, reaching $274.06. The company had a trading volume of 3,748,306 shares, compared to its average volume of 2,619,943. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market capitalization of $147.32 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.02 and a beta of 0.55. Amgen Inc. has a twelve month low of $257.80 and a twelve month high of $346.85. The company's 50-day moving average is $303.87 and its 200-day moving average is $315.16.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business's revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's payout ratio is currently 121.90%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.